High levels of economic growth in the Bric countries will be not be enough to compensate for sluggish consumer demand in developed economies, say emerging market specialists.

“You cannot take it for granted that strong growth in these countries necessarily spills over into the rest of the world,” says Julian Jessop, chief international economist at Capital Economics, a research consultancy in London. “If all that happens is they are growing strongly because they are exporting to the West, then